Follow work permit rules duly
FE Report | Tuesday, 8 April 2014
Executive Chairman of Board of Investment (BoI) Dr Syed Abdus Samad Monday requested foreigners working in Bangladesh to abide by rules regarding their work permit limit accordingly.
Speaking as the guest of honour at a luncheon meeting of the Foreign Investors Chamber of Commerce and Industry (FICCI), he said BoI often faces 'strong pressure' from some embassies, whose countries have many liaisons, branches and buying offices in Dhaka, in respect to the issue of the existing five-year limit.
He said many of the working foreigners stay here as long as they can for not having any set of such rules.
Realising the importance of work permit limit for the foreigners, he said they with consultation with others concerned decided that the rule will be one plus.
Dr Samad said the foreigners will be given one year work permit, which can be extended by four more years following recommendations of the Bangladeshi offices concerned.
"After five years, he/she must leave the country. But two countries, which were very enthusiastic about the rule, have a strong objection to it."
Responding to a question, he said the foreign officials can come here once again after a reasonable gap.
He said the country's various law-enforcing agencies file reports to BoI against the foreign officials who evade rules.
"So, I would like to request the foreign investors and embassies to follow the rules," he said.
Talking about the current state of BoI, the executive chairman said the foreign investors can complete their overall registration procedures with BoI without visiting the board since 2009. The state-owned investment promoter launched automated registration process then.
Mr Samad also called upon the foreign investors to invest in various potential sectors, including energy, apparel, steel engineering, IT and frozen fish, as Bangladesh is the 27th best investment destination in the world, according to MIGA.
FICCI President Rupali Chowdhury said Bangladesh needs some planning to take its GDP (gross domestic product) further from the actual size of US$ 130 billion by properly using the potentials the country has.
"Our GDP growth is more than 6 per cent against the target of 7.2 per cent, and FDI inflow is over $ 1.0 billion. We need much more, if we compare with the $ 1,000 billion GDP of Mexico."
"We know our problems, and we should work together to do something miracle," she said, adding that the country now needs a robust plan and robust execution of it.